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Spectrum raises funds for Penny West exploration

10th April 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold explorer Spectrum Metals will raise A$5-million to fund exploration at its Penny West project, in Western Australia.

Spectrum will place more than 208.3-million shares at a price of 2.4c each to raise the capital, offering institutional and sophisticated buyers a 14% discount to its closing price on April 5.

The shares being placed will be issued under the company’s existing placement capacity and will not require shareholder approval.

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Edited by Creamer Media Reporter

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